Oil now

At the trading on Tuesday, the main oil brands are traded with a moderate strengthening. The reason for the rise in oil prices is the technical correction after yesterday’s decline. The driver for the sale of oil on Monday was the comments of US President D. Trump, who called on OPEC not to overdo the increase in oil prices, arguing that the world economy may not survive. As a result, the main oil brands slowed down monthly growth and traded in a sideways trend.

Technically, the main oil brands are trading near weekly lows, actually slowing the upward trend, which in the future may be the reason for the formation of a flat in the oil market.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 65.30, an increase of about + 0.70% in price.

WTI crude oil trades at $ 55.70, an increase of about + 0.40% in price.

Read also: “Some features of the Fibonacci grid”

Dani Leviant

 

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